While the savings rate has increased from historic lows in previous years, most American households have not developed a "rainy day" fund for unexpected expenses and are not saving for predictable events, such as college or retirement.
America Saves Week encourages and helps individuals assess their savings plans and take action to save. The theme of the 2011 week, February 20–27, is "Make Savings Automatic."
FDIC encourages financial institutions to consider strategies to promote savings, especially for low- and moderate-income consumers. This can include raising awareness of America Saves Week, providing financial counseling or education, and offering free or low-cost savings accounts. In particular, institutions are encouraged to offer savings accounts for children that do not assess service, maintenance, minimum balance, or similar fees.
To learn more about savings-related resources from the FDIC, visit http://www.fdic.gov/deposit/deposits/savings.html.
FDIC-Supervised Banks (Commercial and Savings)
Chief Executive Officer
Chief CRA Officer
Mary Bass, Senior Community Affairs Specialist, Outreach & Program Development, Division of Supervision and Consumer Protection, at
Mbass@fdic.gov or (202) 898-3593
Luke W. Reynolds, Chief, Outreach & Program Development, Division of Supervision and Consumer Protection, at LuReynolds@FDIC.gov or (202) 898-6724
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2011/index.html.
To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).